Canada to Double Non-U.S. Exports in 10-Year Trade Strategy

Prime Minister Mark Carney announced that Canada’s upcoming fall budget will target a doubling of exports to non-U.S. markets over the next decade while introducing major economic reforms to adapt to global trade shifts caused by U.S. protectionist policies.
In a speech at the University of Ottawa, Carney said the plan will redirect Canada’s economic strategy toward trade diversification, domestic manufacturing, and large-scale investment in climate and innovation projects. “Our goal is to double our non-U.S. exports over the next decade, generating more than $300 billion in new trade,” he said.
The budget will include a climate competitiveness strategy, a new immigration plan aligned with labor market needs, and investments in skills training, apprenticeships, and research talent. It will also support a “Buy Canadian” policy favoring locally produced steel, aluminum, lumber, and technology for national projects.
While acknowledging that the budget will demand “sacrifice” and involve spending cuts, Carney emphasized that essential social programs will be protected. Economists anticipate higher deficits to fund strategic investments aimed at stimulating long-term growth and economic resilience.